Better financial reporting.

An SEC advisory committee has submitted a report containing 25 recommendations to make financial information more useful and understandable to investors by providing proposals to improve financial reporting in five main areas:

[ILLUSTRATION OMITTED]

* Increasing the usefulness of SEC filing information.

* Enhancing the accounting standards-setting process.

* Improving the substantive Substantive may refer to:

In grammar:

a noun substantive, now also called simply noun
a verb substantive, a verb like English "be" when expressing existence (in contrast to use as a copula)

In law:

design of new standards.

* Delineating authoritative interpretive in·ter·pre·tive also in·ter·pre·ta·tive
adj.
Relating to or marked by interpretation; explanatory.

in·terpre·tive·ly adv. guidance.

* Clarifying clar·i·fy
v. clar·i·fied, clar·i·fy·ing, clar·i·fies

v.tr.
1. To make clear or easier to understand; elucidate: clarified her intentions.

2. guidance on financial restatements and accounting judgments.

For more detail on the recommendations, visit http://sec.gov/news/press/2008/2008-166.htm.

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Title Annotation:	CHANGING GUARD
Publication:	California CPA
Date:	Sep 1, 2008
Words:	80
Previous Article:	Forum recommends.
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Topics:	Financial disclosure

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